Is Recession Affecting Video Games SalesBy Partho, Gaea News Network
Monday, February 16, 2009
With recession hitting the world economy, video games continue its record sales. The video game market is thriving with blockbusters like Grand Theft Auto IV, and popular ones like the Nintendo Wii. That doesn’t mean the video game industry was safe as the Banks of England( I mean Gordon Banks). Even the latest releases like The Lord of the Rings: Conquest - Xbox 360 are catching up fast. Although the video game market is thriving, the current scenario seems speculative.
Even with such good figures there are indications of recession nipping at heels of the video game market. The most affected seems the games console like Sony Corp.’s PlayStation 3 that’s lagging behind the less expensive rivals like the Wii and Microsoft Corp’s Xbox 360.
Market researcher NPD Group, revealed that Americans bought $21.33 billion worth of video game systems, software and accessories in 2008. Although it was a big leap from previous year’s $18 billion. This was somewhat lower than $22 billion predicted by NPD in late November. Clearly, what that means is the videogames market is fightng it out on the edges. The wave of recession has left not stone unturned.